Big changes coming for SILVER stackers, and its not all good :(

Wow. This is more dramatic than the upswing. And the heck of it is, this drop is across the board. Everything is dramatically down.

 

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I’m afraid it’s lots of coins, especially commemorative ones. I’ve heard the same thing from a few dealers. It saddens me to hear this.

 

It will correct itself soon. The change in the Fed Chairman along with tech stocks reporting a lower than expected earnings started the decline. Profit takers jumped in and panic has now set in. It will reverse itself soon enough. Be patient.

 

Pennsylvania and I live in the good old country outside of a town with about 60,000 people.

 

Well the refiners may be plum full of silver for the next 2-3 months but think how much came in. If the current demand for physical is real, it will get used up in due time. Everything they have will be gone and they'll need to do this again. How many times will this work? Maybe it'll work again and again but eventually most of the public willing to sell at $100 will be cleared out. Lower prices means stock up on more.
Maybe some will be scared off by 90% now but I'm not. As the price increases, 90% will be like the new 1/10th oz AGE. It's still silver. So what if it has to be processed more. If the demand is real for the foreseeable future they'll be begging for anything eventually. Initially, a lot of 90% went to the melting pots in the past month.

 

If this is true, a lot of common year, AU/UNC condition Morgan dollars will eventually rise in price well above spot in premiums. It's like the new Pittman Act all over again.

 

Does that include Chinese copies...LOL

 

You mean the Chinese make copies?
Here's a BIG tip. Don't buy from Walmart if the item is coming from China. Took a month for Us to get a small Xmas tree through them. Took a whole month!
Also, most are fake from there anyways.

 

Also never buy an ASE for $2.95 from a dealer in China and expect to get SILVER
chances are ZERO but you should already know that right?

 

I can't believe people are dumb enough to do that. But here we are.

 

Is actual bullion being traded here, or is it mostly on paper?

 

Most of the trading is in paper.

 

Yes. However, I believe there are some new margin regulations now in place which are forcing banking houses to actually deliver on futures positions if they are out of compliance. That's a game changer, elevator going up!

 

Your choice, depends on how you look at it, people make and lose fortunes in just minutes, i made over 70k but lost it just as fast but since iam not a flipper highs and lows in the market dont really affect me that much, only look at the averages since
iam on the 20 plus year plan..LOL

 

Apparently JPM dumped the equivalent of 1.2 billion ounces of silver (paper, of course) that crushed the price.

 

I believe so as well.

 

What's this 20 year plan ye speak of? If I make it longer than that, money isn't my main concern.

 

Interesting, the paper is falling....?

 

JP Morgan speaketh with forked tongue. Read these links and come to your own conclusions. Mine? They are long in physical silver and short on paper. Hmmm. (for those who don't understand options or futures, selling (dumping) a short position is an oxymoron, it means they bought their short back to cover their position)

https://finance.yahoo.com/news/silv...hy-jpmorgan-123001668.html?fr=sycsrp_catchall

https://silvertrade.com/news/precio...oz-silver-short-position-flips-long-750-m-oz/

 

The challenge right now is local dealers have to wait 5+ weeks to get paid from refiners. My LCS was buying over $100K a day and does not have the capital to wait five weeks to get paid. So you get the discounts to spot we were seeing. My dealer was going to stop buying last Thursday. Hope he did so the Friday swing did not hurt him.